Desktop Metal releases Q3 financial results

Companies & MarketsNews
November 26, 2021

November 26, 2021

Desktop Metal, Boston, Massachusetts, USA, has announced its financial results for the third quarter ending September 30, 2021. Revenue growth was reported at $25.4 million, up 34% from the second quarter of 2021 and 907% from the same period in 2020. GAAP gross margin was reported at 16%, while non-GAAP gross margin was 27%.

Net loss was reported at $66.9 million, including $15.2 million of in-process research and development assets related to acquisitions. Adjusted EBITDA of $(26) million. The company noted a strong liquidity position with cash, cash equivalents, and short-term investments of $423.9 million.

“During the third quarter, we delivered solid financial performance underscored by sequential top-line growth of 34% and more than a 180-basis-point sequential increase in our gross margins as we continue to gain scale,” stated Ric Fulop, founder and CEO of Desktop Metal. “Our core metals business was a key driver of this success, which demonstrates the market enthusiasm for our AM 2.0 technology. With the addition of ExOne, and the Production System P-50 progressing toward initial shipments, we are extremely well-positioned as we head into our second year as a public company to deliver on our long-term commitments to shareholders.”

As well as closing the acquisition of ExOne, North Huntingdon, Pennsylvania, USA, the company acquired Meta Additive, Stoke-on-Trent, Staffordshire, UK, and Aidro, Taino, Italy.

The company also tripled manufacturing capacity dedicated to the Production System™ P-50 to accelerate production ramp and meet early demand. The P-50 is expected to ship in the fourth quarter of 2021, with final component procurement and assembly of initial builds underway.

Further information is available through the company’s website.

www.desktopmetal.com

Companies & MarketsNews
November 26, 2021

About Metal Additive Manufacturing magazine

Metal AM magazine, published quarterly in digital and print formats, is read by a rapidly expanding international audience.

Our audience includes component manufacturers, end-users, materials and equipment suppliers, analysts, researchers and more.

In addition to providing extensive industry news coverage, Metal AM magazine is known for exclusive, in-depth articles and technical reports.

Our focus is the entire metal AM process from design to application.

Each issue is available as an easy-to-navigate digital edition and a high-quality print publication.

In the latest issue of Metal AM magazine

Download PDF
 

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • Metal powders in Additive Manufacturing: An exploration of sustainable production, usage and recycling
  • Inside Wayland Additive: How innovation in electron beam PBF is opening new markets for AM
  • An end-to-end production case study: Leveraging data-driven machine learning and autonomous process control in AM
  • Consolidation, competition, and the cost of certification: Insight from New York’s AM Strategies 2024
  • Scandium’s impact on the Additive Manufacturing of aluminium alloys
  • AM for medical implants: An analysis of the impact of powder reuse in Powder Bed Fusion

The world of metal AM to your inbox

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Sign up

Looking for AM machines, metal powders or part manufacturing services?

Discover suppliers of these and more in our comprehensive advertisers’ index and buyer’s guide, available in the back of Metal AM magazine.

  • AM machines
  • Process monitoring & calibration
  • Heat treatment & sintering
  • HIP systems & services
  • Pre- & post-processing technology
  • Powders, powder production and analysis
  • Part manufacturers
  • Consulting, training & market data
View online

Discover our magazine archive…

The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

  • Reports on visits to leading metal AM part manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

Browse the archive

Share via
Copy link
Powered by Social Snap